Suprema gets new manager for Russia

  • 2004-07-08
  • Staff and wire reports
TALLINN - Suprema Securities announced that it has appointed Vadim Ogneshchikov its new fund manager. Ogneshchikov, who worked at Hansabank, will take over the group's asset management products in Russia and the Commonwealth of Independent States, reported Suprema, which is part of the Evli Bank Group.

Ogneshchikov has nearly 10 years experience as an investment specialist in both Russian and CIS capital markets. For the past seven years he worked as manager of Hansa's Russian growth fund.
Evli's asset management division said it saw significant development potential in products on the vast Russian market.
"We see great opportunities and challenges in the Russian capital market, but we will also have to take into consideration major risks," said Maunu Lehtimaki, board member of Evli Group Plc and head of the Evli Group asset management sector. "For successful grounding of the risks we have to thoroughly know the peculiarities of the region and bring in specialists with broad experience in the Russian capital market."
Russia's economy grew 7.3 percent last year. Contrary to 1996-97, when the economy was mainly pinned on a strong ruble and intensive consumption, Russia's present economic development is becoming more and more widely based, analysts said. In Suprema's opinion, Russian economy may grow this year at a pace equal with or even at a higher rate than last year.